Tesla Sets New Standards in Autonomy with FSD Beta v12.1.2 Launch [Video]

By Kevin Armstrong
v12 rolling out
v12 rolling out
Not a Tesla App

Tesla has expanded its Full Self-Driving Beta program by releasing the first public version of FSD Beta 12.1.2, update 2023.44.30.12 to a select group of Tesla owners. This version is notable for its use of an end-to-end neural network, which is expected to greatly improve Tesla's advanced driver assist system (ADAS). The neural network, trained on millions of video clips, replaces much of the previous explicit C++ coding, improving the system's capability to handle complex driving situations. While Elon Musk had suggested that version 12 would see FSD coming out of beta, the release notes still label it as beta.

Tesla previously released FSD Beta v12 internally, including v12, v12.1, and v12.1.1, but v12.1.2 is the first to be available to non-employees. OG FSD Beta tester, and Tesla influencer, @WholeMarsBlog received this newest release last night and has already published his video (below).

Early Feedback & Tempering Expectations

Early reports say that FSD Beta v12 is more intuitive and drives more human-like. The feedback appears to be overwhelmingly positive, although it’s not uncommon for owners to get excited about such a monumental release that we’ve been looking forward to for many months. We may need to temper our expectations as this release alone won’t get us to level 4 or even level 3 autonomy, but it could be a significant step in the right direction. It could be as significant to vehicle control as when Tesla first transitioned to using AI for Autopilot.

Early reports say that there is a noticeable improvement in how the vehicle handles urban driving scenarios. The smoother transitions and quicker response times appear to contribute to a more comfortable and human-like driving experience. This shouldn’t be unexpected, as vehicle control is now trained on videos of humans driving instead of engineer-written code.

New Pull-Over Feature

A notable feature of FSD Beta v12.1.2 is its ability to pull over to the side of the road autonomously, a functionality showcased in Musk's live stream. At the end of a drive, the vehicle will now pull over to the site of the road instead of simply stopping. WholeMarsBlog shows off this feature in action in his video below:

Release Notes

For such a milestone release, Tesla hasn’t provided much information in the way of release notes. Each FSD Beta release normally contains a long list of technical release notes, which often need to be translated for everyone to understand. However, this time we get a single sentence that describes FSD Beta v12. The release notes simply state:

“FSD Beta v12 upgrades the city-streets driving stack to a single end-to-end neural network trained on millions of video clips, replacing over 300k lines of explicit C++ code.”

Road Ahead and Release Date

A clearer picture of FSD Beta v12.1.2 and its real-world performance will emerge as more Tesla owners receive the update and share their feedback. It will be interesting to see how the system handles diverse driving conditions, especially in areas with heavy precipitation, a scenario Elon Musk mentioned needing more training.

While this public release is monumental, the release to additional owners is expected to be a gradual and slow process. It could be months before most owners have access to this latest update. Tesla will likely gather feedback with this release and issue additional v12 betas to ignore other issues and improve the system.

While Tesla continues to innovate and refine its FSD technology, it is crucial to remember that the software is still in beta. The transition to full autonomy is a complex and gradual process, requiring rigorous testing and validation. However, with each update like v12.1.2, Tesla moves closer to realizing its vision of fully autonomous vehicles.

Tesla's Shareholder Event: Vote Results And Video Replay

By Karan Singh
Not a Tesla App

Yesterday on X, Elon Musk posted that the two key resolutions for the upcoming Shareholder Meeting were both passing by wide margins – and would subsequently go on to pass at today’s Shareholder Meeting.

Musk Compensation Package and Tesla’s Move to Texas

The two key resolutions, one on Elon Musk’s performance-based compensation package, and the other on Tesla’s re-incorporation to Texas, both passed in the preliminary stages. Each required a minimum number of ‘Yes’ votes to pass at the Shareholder Meeting.

The performance-based compensation package only required a simple majority – a certain number of Yes votes, with abstentions not counting as Nos. On the other hand, the move to Texas required a full majority, with abstentions counting as Nos.

Elon Musk declared his victory on X in these two key votes, and Tesla’s share prices moved favorably in post-market, and then again in pre-market trading. This is a positive indicator for Tesla and Elon Musk. On X, Elon recently agreed that given he has received a controlling stake in Tesla, he would work towards making Tesla the most valuable company on Earth.

Other Resolutions

The first five proposals are Tesla corporate proposals, while the remainder are shareholder proposals, and are covered in the table below. For more details, you can read Tesla’s Proxy Package. The proposals are ordered below in the order of presentation.

Resolution

Status

Elect 2 Directors for a 3 Year term (James Murdock, Kimball Musk)

PASS

Non-Binding Advisory-basis Executive Compensation

PASS

Move Tesla to Texas

PASS

Elon Musk’s Compensation Package

PASS

Appoint PricewaterhouseCoopers as Tesla’s accounting firm.

PASS

Reduce Director Terms to 1 Year

FAIL

Simple Majority Stockholder Voting

FAIL

Annual Report on Anti-Harassment and Discrimination

PASS

Freedom of Association and Collective Bargaining Policy

PASS

Report on EM Radiation and Wireless Technologies, and effects on humans.

PASS

Adopting targets and reports for sustainability metrics for executive compensation

PASS

Moratorium on sourcing minerals from deep-sea mining.

PASS

Shareholder Meeting Event

You can view Tesla’s shareholder meeting below:

Tesla Likely to Launch Robotaxi Service in Next 5 Years, May Account for 90% of Future Profit

By Karan Singh
ARK Invest

Tesla is on the verge of its Robotaxi announcement event on 8/8, and major investors like Ark Invest are examining and refreshing their bull case scenarios.

Robotaxi as a Focus

Ark Invest sees Robotaxi as a focus of Tesla’s ongoing business and sees Tesla’s autonomous ride-hailing revenue to net nearly $1 trillion in 2029. In comparison, they estimate Tesla’s vehicle sales to account for $0.4 trillion in revenue. With this bull case, Ark Invest also sees Tesla’s share price soaring to $3,100 by 2029. Ark Invest’s bear case sees the share price moving to $2,000 and robotaxi netting $0.63 billion in revenue.

Ark Invest gives Tesla a 58% chance of launching its robotaxi service in 2025, and a 38% chance in 2026. It’s clear that Tesla’s future lies in operating a fleet of autonomous vehicles and the question is just when it will happen. Given FSD’s massive improvements between FSD V11 and FSD V12, there is a possibility of Tesla meeting these estimates, although a lot depends on how fast improvements will continue to come. While FSD V12 is impressive, it’s still a long way from a true autonomous vehicle.

Rate of Improvement

Miles driven by Tesla FSD versus autonomous competitors
Miles driven by Tesla FSD versus autonomous competitors
ARK Invest

Ark’s case is focused on the fact that FSD’s rapid improvement will continue, and a lot of that may be determined with the next few releases, including FSD 12.4.1, v12.5, and v12.6. When comparing Tesla to autonomous vehicles, Tesla has a drastic lead in miles driven, in fact, it’s so large that you can barely even see Tesla’s competitors. Tesla is at 1.3 billion miles driven with FSD, while the closest competitors are just reaching 15 million autonomous miles driven. While there’s a drastic difference in capabilities between Tesla’s FSD and autonomous vehicles such as Google’s Waymo, Tesla has the ability to gather data 86 times quicker.

Training data is key to building autonomous vehicles, and Tesla is currently the king of vehicle-related data.

Services Company

We previously wrote about whether Tesla’s future will be as a car company or a services company – and major investors such as Ark Invest and Morgan Stanley see Tesla’s AI services as a major driver of business in the future, and the focus of future revenue and profits.

Robotaxi, as both a service and as a physical product, has the opportunity to shake up markets in a unique way, providing quick, clean, and safe transportation between local destinations in urban areas, which could quickly outcompete traditional services like taxis, and tech competitors like Uber or Lyft. The market for robotaxi is untapped and massive, but Tesla isn’t the only one chasing the goal.

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